Exxon Mobil said to explore sale of Hong Kong gas stations

Investing.com -- Exxon Mobil is considering a sale of its gas stations in Hong Kong in a deal expected to fetch a few hundred million dollars, according to three people with knowledge of the matter.

The company has hired a financial adviser and held discussions with a handful of bidders, the people said, declining to be named as the information was confidential.

Bloomberg reported on Wednesday about the sale, saying Exxon may seek a valuation of $500 million to $600 million for the assets, citing people familiar with the matter.

The oil and gas producer provides several products and services to customers in Hong Kong through a network of service stations operating under the Esso brand.

Exxon's first service station in Hong Kong opened in 1926 in Kowloon. The firm now sells fuel through a network of about 41 Esso-branded service stations to motorists in Hong Kong.

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